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Huawei invests $15M in Bangkok OpenLab

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Chinese IT manufacturing giant Huawei plans to invest $15 million to set up OpenLab Bangkok to provide one-stop support to enterprises’ information and communication technology infrastructure, the company told local media last week.

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This will be its seventh OpenLab after it launched in Suzhou, Mexico, Munich, Singapore, Johannesburg and Dubai. The new lab will be located at G Tower with total space of 2,000 square metres, which will be the largest lab outside China.

David Sun, president and chief executive officer of Southeast Asia region at Huawei Technologies said that this investment will be in line with the Thai government’s policy to drive digital transformation in the country.

OpenLab Bangkok will facilitate Huawei’s joint innovation and solution launches with its customers and partners in Thailand and other Southeast Asian countries, including the development of smart cities, public safety, smart grids, finance, education, transport, and Internet service providers.

The new lab will cooperate with more than 40 international and local partners such SAP, Microsoft, Chulalongkorn…

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DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

DEALSTREETASIA Pte. Ltd. is a news and intelligence platform providing reports on investments, mergers, acquisitions, private equity, venture capital, investment banking and the business of startups across the Asian region.

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Business

Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

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On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

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Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

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The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

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Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

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Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

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